...What are your thoughts on the growth of house prices in Australia? Are the recent trend in house prices consistent with an efficient market? Or is Australia in the midst of a housing bubble that can jeopardise the stability of the financial system/economy? At a first glance, from all the media speculation and coverage on the Australian Property market, I believed that the Australian housing market was showing increased prices due mainly to foreign investment. But after undertaking The Financial System subject at UTS, as well as researching and gaining a greater insight into the matter I can state that my hypothesis is in fact that Australia's housing market is inconsistent with that of an efficient market, although it cannot be labelled as a ‘bubble' as a bubble only truly exists once it pops (Duke, 2015). In an efficient housing market, an increase in the demand for property will see an increase supply. Although as seen in Australia over the past decade, this increased demand has far exceeded the supply and driven prices up drastically. Analysis done by the ANZ has indicated that although NSW is on track to construct 56,000 new homes next financial year, demand is expected to grow to 63,000 leaving a shortage of supply by 7,000 and a total housing shortage of 99,137 in NSW alone (Irvine, 2016). This housing shortage is causing frustrating for aspiring first home buyers like myself as prices continue to increase. The Federal Governments initial First home buyers grant of...
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...Introduction For a while now, the price of houses in Australia have been rising and it doesn’t seem to be stopping any time soon. In this assessment, I’m going to be walking you through the many problems of Australia’s housing market and will offer solutions as to how we can fix it. Topic question: Generation Z will never be able to purchase their own homes. Why? How have house prices changed in Australia in the last 15 years? When surveyed, 85% of first homebuyers in Australia believed that an affordable home would be one priced at under $600,000 (Crommelin, n.d). However in Sydney, Australia’s most populous city, the median house price is over a whooping $1,000,000 (Crommelin, n.d). While the nation’s overall median house price had already surpassed $660,000 two years ago (The true extent of Australia’s rising property prices, 2015). With house prices quickly rising, it’s become clear to many, especially first home buyers, that the Great Australian Dream of owning your own home is now far off in the distance....
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...MacroPlan Australia Setting New Standards MacroPlan Australia Setting New Standards Student Accommodation Study October 2006 PREPARED FOR CITY OF WHITEHORSE City of Whitehorse MACROPLAN AUSTRALIA PTY LTD SYDNEY |MELBOURNE Page 1 of 60 MacroPlan Australia Setting New Standards + Contact Information PROJECT DIRECTOR Con Tsotsoros (Director, Spatial Planning) MELBOURNE SYDNEY Fairfax House Level 5, 19-31 Pitt Street, Sydney, NSW. 2000 t. 02 9252 1199 f. 02 9241 6002 REPORT CONTACT Jason Black (Associate Director, Spatial Planning) MELBOURNE MELBOURNE Level 4, 107-109 Flinders Lane, Melbourne, Vic. 3000 t. 03 9663 6826 f. 03 9663 2896 e. info@macroplan.com.au w. www.macroplan.com.au Signed+ …………………………………….……. Dated: 26 October 2006 + This document has been reviewed by the Director of the Spatial Planning Group, MacroPlan Australia. This document is for discussion purposes only unless signed and dated by the person(s) identified. Disclaimer © MacroPlan Australia Pty Ltd All Rights Reserved. No part of this document may be reproduced, transmitted, stored in a retrieval system, or translated into any language in any form by any means without the written permission of MacroPlan Australia Pty Ltd. Intellectual Property Rights All Rights Reserved. All methods, processes, commercial proposals and other contents described in this document are the confidential intellectual property of MacroPlan Australia Pty Ltd and may not be used or...
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...mentioned in the top 20 most expensive cites in the world to buy property in. Over the past decade we have seen a substantial increase in housing prices and a reduction in housing affordability in Australia. Home ownership in Sydney has been a hot topic of discussion for many years and housing affordability has been a key policy goal for government. Both state and commonwealth governments have funded numerous housing assistance programs over the years. With the one goal in mind to help first home buyers achieve the great Aussie dream by buying their first home. In September 2008 the Global Financial Crisis came to a head with the US government allowing the investment bank Lehman Brothers go bankrupt. Up to that point it was always assumed that the US government would bail out any bank that got into trouble, this was not the case and banks were now deemed ‘risky’ (Elliott, The Guardian, 2011).Governments all over the world scrambled to prop up their economy to ‘ride out the storm’. The Rudd governments First Home Buyers Boost was just one part of the economic stimulus package rolled out to hopefully reduce the chances of Australia facing the same fate that the United States of America did when the Global Financial Crisis hit. I will discuss the First Home Buyers Boost scheme that was implemented to encourage first home buyers into the housing market whilst we dealt with the Global Financial Crisis that was hitting the United States of America and other countries around the globe....
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...The impact of the global financial crisis on social services TABLE OF CONTENTS EXECUTIVE SUMMARY ......................................................................................................... 1 1. 2. Introduction ...................................................................................................................2 Background: an overview of the financial crisis........................................................ 4 2.1 2.2 2.3 Origins of the global financial crisis .....................................................................................4 Impacts on the real economy...............................................................................................4 Implications for the economic outlook..................................................................................5 Macroeconomic overview ....................................................................................................6 Key impacts on low-income households............................................................................13 The social services sector..................................................................................................17 Services provided to individuals and families ....................................................................21 Capacity of the system to deliver .......................................................................................27 3. Australia’s economic outlook ......................
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...Fiscal Deficit……………………………………………………………………3 2.0 Consequences of Australia’s Fiscal Deficit on the Economy…………………………………4 3.0 Implications of Australia’s Fiscal Deficit for the next 3 years………………………………..4 Abstract The 2009 economic stimulus plan helped Australia climb up the recession. This helped save the finances of Australia making it one of the strongest in the developed world. The A$40 stimulus package was amongst the biggest too in the whole world, this not only have positive effects on the economy but also led to persistent fiscal problems which are still persistent. One of the major Australia’s trading partners, China, is growing at very fast rate which needs to be controlled so as to reduce the company taxes charged to Australia’s mining companies. The 2009 economic stimulus package not only saved Australia from the recession but it also led to improved infrastructure, created investment opportunities which led to employment. However, it led to increased taxes and high exchange rates. 1.0 Introduction In 2008 the world experienced an economic meltdown that saw a collapse in economies and also businesses. Not only were the economic power houses with busy stock and housing markets suffer but also small economies. Some of the countries predicted this down fall while others were caught unawares. In an attempt to recover from the economic meltdown and salvage what was left most countries adapted economic stimulus plans. According to (Leigh, 2011) the...
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...Wiles (612) 9220 1525 richard.e.wiles@jpmorgan.com Ed Henning (61-2) 9220-1933 ed.a.henning@jpmorgan.com Fujitsu Australia Team Martin North (61-2) 9293-0617 martin.north@au.fujitsu.com Tom Dissing (61-2) 9293-0423 tom.dissing@au.fujitsu.com This report is the result of a joint effort between Fujitsu Australia and JPMorgan, focusing on developments in the Australian mortgage industry. We use the Fujitsu Mortgage Market and Yield Improvement Modelling. See page 30 for analyst certification and important disclosures, including investment banking relationships. JPMorgan does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Brian Johnson (61-2) 9220-1605 brian.d.johnson@jpmorgan.com Asia Pacific Equity Research 25 February 2005 Table of Contents Executive Summary .................................................................3 Industry Overview ....................................................................5 Mortgage Brokers...................................................................10 International Comparison ......................................................14 Market Shares .........................................................................18 Half An Hour With John Symond (Aussie)...
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...Baykitch and Sladojevic (2015) explains that when an FTA agreement is made the countries or the companies involved the deal may not be welcomed by either the parties involved but when they both work towards it the realization of the agreement it becomes easy. It is also beneficial to both the countries because it enables the citizens to move freely for the betterment of the economy (Baykitch and Sladojevic 2015). China – Australia Free Trade Agreement An example of FTA agreement is the recent china-Australian agreement. The FTA agreement is considered to be beneficial to Australia in very many ways. Ball says that given that China has a population of above 13 million it opens the market for the Australian products. China is also the second-largest economy in the world's considering that is also an important manufacturing hub for the world products. It was important for the Australia to form free trade agreement because of various factors. China is the largest trading partner to Australia (Ganz 2015). It is also a fact that the merchandise trade between Australia and China has grown tremendously with a significantly notable 18 percent increase every year for the last decade. The another major factor is the fact that over the years the investment...
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...* Homelessness in Australia. * Broad definition of “homelessness” * Homelessness is defined under Australian federal law as “inadequate access to safe and secure housing”. * However, homelessness is not just about housing, fundamentally, homelessness is about 1. Lack of connectedness with family, friends. 2. The community and lack of control over’s environment. * A person who is homeless may face violations of the right to an adequate standard of living, * The right to education * The right to liberty and security the person * The right to privacy * The right to social security * The right freedom from discrimination * The right to vote and many more * For some people, being homelessness means being “ roofless” * Living on the streets, in parks or in desert buildings. * This is known as primary homelessness and is the most visible kind of homelessness. * For other people, being homelessness means moving between various types of temporary shelters. * Such as the homes of friends and relatives. * Refuges and hostels. * Or living in boarding house or long term basis.( this is known as secondary or tertiary homelessness) * What are some of the causes of homelessness? * Just as there are many different ways in which a person can be affected by homelessness. * Poverty and the inability to afford adequate housing are central to the causes of homelessness. * These circumstances may result...
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...is2010 Due Diligence Report - Catania Edward Natour Student ID: 10589796 5/26/2010 Contents 1. Executive Summary ............................................................................................................................................5 2. Market Report ......................................................................................................................................................5 2.1 International Economy ...............................................................................................................................5 2.2 Trade ............................................................................................................................................................6 2.3 National .......................................................................................................................................................6 2.3.1 GDP .........................................................................................................................................................6 2.3.2 Population...............................................................................................................................................7 2.3.3 Interest rates...........................................................................................................................................7 2.3.4 Taxation ............................
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...exactly the same activities like a bank . E. None of the given answers. Answer: E Level of difficulty: 2 [QUESTION] Which of the following statements is true? A. Authorised depository institutions are those that have been granted an authority by the RBA to operate in Australia. B. Authorised depository institutions are those that have been granted an authority by APRA to operate in Australia. C. Authorised depository institutions are those that have been granted an authority by the Australian Government to operate in Australia. D. Authorised depository institutions are those that have been granted an authority by ASIC to operate in Australia. E. None of the given answers. Answer: B Level of difficulty: 2 [QUESTION] Which of the following statements is true? A. Building societies are depository institutions. B. Building societies usually operate on a cooperative basis. C. In case of building societies the depositors are also members of the society. D. All of the given answers. Answer: D Level of difficulty: 2 [QUESTION] Which of the following statements is true? A. Credit unions are mutual cooperative organisations. B. Credit unions provide deposit facilities, personal and housing loans...
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...cities. A significant rise in housing costs as a result of population...
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...Good evening to everyone present here at the RSL during a time of great commemoration, Australia Day. It’s certainly a pleasure to be standing in front of such an audience and a great honour to be given a chance to present a speech challenging an imperative matter engraved in Australian society. Australia has seen a copious change throughout its short history. Although this nation has achieved vast glory in a marginal amount of time, the current standing of our nation is leading us down an unrealistic path set for the younger generation. Owning a home has long been a Great Australian Dream. Now with house costs are at an all-time high along with the loss of job security, how can Australia be a thriving country when the cost of living presents an impracticable expectation for young adults? What will the future look like for your kids, and the...
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...Critical Realism and Social Constructivism: Homelessness in Australia Name: University: Course: Tutor: Date: Abstract This Essay looks into the contrasts between Critical Realism and Social Construction, in relation to social issues in Australia. The social issue that is being tackled in this case is the homelessness in Australia. It explains the two phenomena in terms of the sociological perspectives on their difference and deviance. The content of this essay will be illustrated through different materials on the state of the homelessness in Australia. The structure of the Essay is in the form of arguments and evidences to back up those arguments. Introduction Critical Realism theory has to do with the objects of science. This includes both the transitive and intransitive objects. The transitive objects are those that are constructed socially and change according to how much and how fast the theories of science do change. Intransitive objects on the other hand have nothing to do with the social issues, and do exist independent of the human’s knowledge of their existence. Social constructivism comes about when we come up with theories about them using our intellect, history and even social issues which are used to explain several phenomena. This can be seen in the explanation of gravity, which exists independent of our knowledge of it. Social construction has occurred in this subject, whereby intellect gained from areas like history...
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...trading there is a limit set on the emissions that can released into the atmosphere while carbon tax just focuses on adding burden to the industries by making them pay more for emissions. Carbon tax was enforced in Australia by the previous federal government on 1st July 2012. On a rough estimate it is applicable to around 500 Australia’s largest emitters which emit more than 25,000 tonnes of carbon dioxide or supply or use natural gas (SBS, 2013). Implementation of this carbon tax came to the consideration of federal government due to the report suggested by Climate Change Authority which aims at targeting in reducing carbon emissions by 15 percent by year 2020. Based on the suggestion federal government made a decision to impose carbon tax as an effective measure to discourage industries in emitting carbon dioxide which has a direct impact on climate change. Figure 1: Climate change actions in major emitting economies Australia’s major trading partners China, United States of America, Japan, The republic of Korea, Singapore, New Zealand, UK, Germany, Italy, France, Holland, Switzerland and Canada have already implemented or making efforts to implement the carbon taxing methods to curb the pollution level in city, state and national level. Australia is rated...
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